Aiding in those impressive totals is Innovation Park’s own Ben Franklin TechCelerator @StateCollege.

The 10-week business startup accelerator allows those who are thinking about starting a tech-business to explore the likelihood of success with minimum risk, to benefit from professional guidance, and to walk away with a viable business model – and even funding toward their startup costs.

Since the TechCelerator’s inception nearly seven years ago, more than 100 graduates or teams of graduates have come through the program, which in turn has resulted in the formation of 92 companies – companies that are now generating more than $14 million in revenue.

“Forty-seven of the companies were formed based on Penn State’s technology, and more than a dozen of the startups are either Technology Center Incubator tenants or affiliates,” said Elizabeth Wilson, the Director of Marketing &

Participants in the TechCelerator @StateCollege program can receive up to $1,000 toward startup costs and have the opportunity to pitch their business idea to a panel of entrepreneurs upon complete of the course. At that time, the top team receives $10,000 in seed funding to aid in getting their business off the ground. Additionally, there are opportunities to receive I-Corps funding of $3,000 and to apply to the National I-Corps program, which comes with a $50,000 grant.

Scarlett Miller and Jason Moore from Medulate receive $10,000 prize from Bob Dornich at TechCelerator.

Communications at Ben Franklin Technology Partners. “Perhaps the most exciting outcome has been the job creation of nearly 200 new positions in our area!”

“Twice a year, cohorts of six have been receiving stipends to assist with prototyping and customer discovery expenses as well as initial legal and accounting advice,” explained Wilson. “Ben Franklin has invested nearly $3 million in 18 of the startups that have graduated from the TechCelerator Program. This is a no-cost opportunity that has obviously created a significant impact in our area!”

The next 10-week, TechCelerator @State College runs March 19 – May 14, 2019, with weekly classes held every Tuesday from 2-5 p.m. and additional weekly mentoring sessions from Ben Franklin’s Transformation Business Services Network and Penn State’s Small Business Development staff also included.

Local entrepreneurs, undergrads, grad students, post-doctorates, professors, and university researchers are all invited to apply to be a part of the next 10-week transformational program. Application information can be found online here at cnp.benfranklin.org/techcelerator-at-state-college.